The University of Southampton
Courses

MATH6146 Revenue Management

Module Overview

The module provides an introduction to the theory and practice of Revenue Management

Aims and Objectives

Module Aims

• Understand the key ideas in Revenue Management • Use basic heuristics to set booking limits • Understand basic models of overbooking • Understand how customer choice-modelling can be used in Revenue Management • Implement optimal pricing models

Learning Outcomes

Learning Outcomes

Having successfully completed this module you will be able to:

  • Understand the key ideas in Revenue Management
  • Use basic heuristics to set booking limits
  • Understand basic models of overbooking
  • Understand how customer-choice modelling can be used in Revenue Management
  • Implement optimal pricing models
  • Formulate network Revenue Management models

Syllabus

1. Introduction to Revenue Management: market segmentation, reserve prices, booking limits, price elasticity 2. Setting booking limits: Littlewood’s Model, EMSR-A, EMSR-B heuristics 3. Overbooking 4. Customer choice modelling 5. Optimal pricing models 6. Practical implementation of Revenue Management

Learning and Teaching

Teaching and learning methods

The module will be taught using lectures and case studies. The intention is to use a Revenue Management practitioner to give a lecture on the practical implementation of Revenue Management

TypeHours
Independent Study138
Teaching12
Total study time150

Resources & Reading list

Kalyan T. Talluri and Garrett J. van Ryzin (2005). The Theory and Practice of Revenue Management. 

Assessment

Summative

MethodPercentage contribution
Exam  (120 minutes) 70%
Group Assignment 30%

Repeat

MethodPercentage contribution
Exam  (120 minutes) 100%

Referral

MethodPercentage contribution
Exam  (120 minutes) 100%

Repeat Information

Repeat type: Internal & External

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